Parc Esta @ Eunos

Parc Esta is a mega-project right next to Eunos MRT  and is redeveloped from the former Eunosville HUDC estate. Comprising about 1,400 units on a massive land size of 28 Olympic sized swimming pools, Parc Esta will be developed by the renown MCL Land. Residents will not only be able to live in an exclusive low density neighbourhood, they can enjoy a plethora of facilities within their own development!

Parc Esta Location

Parc Esta Eunos Condo Location

Parc Esta is less than 5-mins walk away from Eunos MRT station and a bus interchange which allows residents to easily commute to all parts of Singapore. For those who drive, a 5-min drive will take you to PIE or ECP which easily connects you to all parts of Singapore.

Getting your daily necessities is such a breeze! The NTUC Fairprice supermarket and a wet market are located right behind Eunos MRT station. There are also at least 3 household accessory shops located on the ground floor of the nearby HDB blocks to satisfy your daily needs.

Food Glorious Food!

There are no lack of F&B options near Parc Esta for those with discerning taste. You can easily get your regular hawker fix at the hawker centre or kopitiams near Eunos MRT station, or take a few steps further to join the queue for the famous black pepper crab at Eng Seng Restaurant at the junction of Still Road and Joo Chiat Place. If you have a late night craving, just head further down Joo Chiat Place to the famous Fei Fei Wan Ton Mee which is open 24/7.

The Joo Chiat and East Coast stretch are known for their vibrant F&B scene and these are only a short drive away in the same neighbourhood. For food, you will definitely be spoilt for choices!

Paya Lebar Central

Paya Lebar is just one MRT station away from Parc Esta, and is one of the commercial hubs to be developed outside the city centre as part of URA’s larger decentralisation strategy to provide alternatives for businesses and jobs closer to homes. Currently, the other commercial hubs are Tampines Regional Centre, Jurong Lake District and Woodlands Regional Centre.

The upcoming changes to Paya Lebar shall lift prices like a rising tide for the surrounding properties due to the current development of 500,000 sqm of commercial space. In the near future, Paya Lebar Central (PLC) is envisioned to be the eastern equivalent of the now bustling Buona Vista Business Hub. As reported on the Business Times, PLC has an added advantage over other commercial hubs due to its strategic location to both the city centre, Kallang Riverside, as well as Changi Airport. Over the next few years, there will be retail, hotel and office developments clustered around Tanjong Katong Road and Sims Avenue.

Paya-Lebar-Master-Plan-1

park-place-residences-paya-lebar-quarter-set-to-transform

Kallang Riverside Future Plans

Just a little further beyond Paya Lebar, Kallang is seeing a real estate revival! A revamp of the Kallang River coastline which will eventually transform it into a 64 hectare waterfront lifestyle precinct offering 4,000 new homes 3,000 hotel rooms, and around 400,000 sqm of office, retail and entertainment facilities. These will be spread across two distinct precincts on either side of the Kallang River – a residential enclave and a mixed-use cluster. Read more on URA’s development plans for Kallang.

kallang riverside condo kampong bugis lavender mrt sports hub freehold

Nearby Schools

For families with young children, nearby schools are an important factor when it comes to deciding which property to buy. Parc Esta is closely located to the following primary schools:

Within 1km

  • Eunos Primary School
  • Haig Girl’s School

Within 2km:

  • Chij (Katong) Primary
  • Kong Hwa School
  • Maha Bodhi School
  • St. Stephen’s School
  • Tanjong Katong Primary School
  • Tao Nan School
  • Telok Kurau Primary School

Parc Esta Specifications

Project Name: Parc Esta
Address: 838 Sims Avenue
Developer: MCL Land
District: 14
Tenure: 99 years
No. of blocks TBA
Total no of Units: approx 1,399
Facilities TBA
Site area: approx 376,713 sq ft
Expected TOP: 2023
Architect TBA

Site Plan

To be advised

Unique Features

  • Eunos MRT station at doorstep
  • Excellent connections to major expressways such as the Pan Island Expressway (PIE) and East Coast Parkway (ECP)
  • Convenient access to daily necessities (NTUC and wet market within 5 mins walk)
  • Massive range of F&B options nearby (including a hawker centre and boutique stalls)
  • Location attracts a huge tenant pool
  • Good pricing upside from development of 2 commercial hubs – Paya Lebar Central and Kallang Riverside
  • Developed by reputable developer – MCL Land

Photo Gallery

TBA

Parc Esta Floor Plans

TBA

Unit Mix

TBA

Parc Esta Official Pricing

Parc Esta will be built on the site of the former EunosVille, which was sold en bloc for S$765m in June 2017 to MCL Land. The sale price works out to a land rate of $909 per sq ft per plot ratio, including the premium paid to top up the lease to a fresh 99 years and for redevelopment of the site to a gross plot ratio of 2.8.

According to CBRE, the new units could be sold for an average of about $1,700 to $1,750 psf.

Register now to obtain first hand updates on the pricing based on your choice units!

About the Developer

MCL Land is a leading property group in Singapore.  A member of the Jardine Matheson Group under Hongkong Land Holdings and listed under the Singapore Stock Exchange, MCL Land has a long track record of building quality homes in Singapore and Malaysia over the last 50 years. MCL Land has an extensive portfolio of prime residential properties in Singapore and Malaysia, which are held through more than 15 subsidiaries and associates. Past projects developed by MCL Land include LakeVille, J GatewayHallmark Residences, Ripple Bay, Palms @ Sixth Avenue, D’Pavilion and Hillcrest Villa.

Register Interest Now

Parc Esta is expected to open for viewing in late August 2018. REGISTER NOW for an appointment at our showflat and enjoy VIP pricing direct from the Developer! No agent commission required!

Registration Form
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Excellent Location
  • Location
  • Pricing
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Summary

There won’t be another massive project such as Parc Esta to be launched in the vicinity in the foreseeable future. Residents of Parc Esta will be able to enjoy seamless connectivity via MRT and PIE/ECP. While residents are able to enjoy the peace and quiet from the low density neighbourhood, there are no lack of nearby amenities. Based on the cost of enbloc acquisition of Eunosville, Parc Esta is expected to be priced competitively compared to Paya Lebar Quarters which is only 1 MRT station away at Paya Lebar.

 


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Powerhaus
Powerhaus
A few weeks ago, I posed this question:
If you are a landlord and your unit is vacant for some time. Will you leave it empty or lower your rent? Assuming you will lower the rent, condos that are hard to rent out (eg condos with many units and far from MRT) should have lower rental yield right?

Time for some benchmarking:

Midtown Residences near Hougang MRT
160 units, rental yield 3%

The Quartz
625 units, rental yield 2.8%

What do you think would be the rental yield for Kingsford Waterbay which has 1165 units and far away from MRT?

----------------------------

Time to reveal the answer here in a graphical manner for easy reference. I obtained the data from Edgeprop.com based on the implied rental yield (i.e. average rental psf / average sales psf). From the data, we can infer that the premium that buyers are willing to pay for a location near MRT is the same as that for tenants, which is why the rental yields are similar for condos near and far from MRT. Also, despite Kingsford Waterbay and Riversails having so many units in their respective condos, their rental yields are not any lower than those near the MRT.

Conclusion:
Most investors' first choice is a condo that is located right next to MRT. It's a perfectly normal preference, and the general belief is that it will be hard to find tenants for condos far away from MRT. However, based on the statistics in Hougang, this doesn't seem to hold true!

But how about capital appreciation? Do condos near MRT appreciate faster than those further away? Stay tuned...
Powerhaus
Powerhaus
In HK, more than 70% of one's salary is used to service their housing loans. In Singapore, MAS regulations do not allow banks to offer loans to individuals such their that monthly installments exceed 60% of their salary.
Powerhaus
South China Morning Post
The violent confrontations in Hong Kong go beyond the extradition bill. It's about feeling hopeless, frustrated and downtrodden, says Yonden Lhatoo.
Powerhaus
Powerhaus
THE ONE AND ONLY EC IN 2019

PIERMONT GRAND EC
Launching Soon! 😄

Are you planning to purchase an EC as your first home? or Considering to upgrade from your current HDB flat?

With Piermont Grand EC
• Close proximity to Waterway Point
• Mins Walk to MRT
• Future Punggol Digital District, Est. 28,000 new job
• Great View of Punggol WaterWay

I'm here to help! Check your eligibility with me NOW!! 🧐
Powerhaus
Powerhaus
BEAUTY IS IN THE EYE OF THE BEHOLDER

How much do you think a Mona Lisa painting is worth?
Based on some estimates, it is worth in excess of US$620m in today's money. Question to you - will you pay US$620m to own the original Mona Lisa masterpiece and hang it on your wall? For S$62, I might!

Landed houses are like art pieces, whose value is subjective. Unlike condos which have many similar units and reference points, every landed property has its unique character. Yet, there are ways to attach a value to a landed property, and there are general principles that landed owners adhere to - i.e. do you know that a corner terrace is valued less than a semi-detached even though they can be in the same location, look the same and have the exact same built up and land area?

Yesterday, I was sharing with other agents how to estimate the value of a inter-terrace house along Koon Seng Road. This is an interesting case study because this house has a road line plan on its land. What this means is that if the owner decides to rebuild the house, the building has to be further away from the road. This is to facilitate future road widening works. Fortunately, it is a 2.5 storey house which was still in good condition (i.e. no need for rebuilding). I'm oversimplifying it here, but to derive the price, we can benchmark the land $psf against a recent transaction of a comparable terrace house along the same road which is also affected by the road line plan. Unfortunately, the last transaction was done about 5 years back. So the next best proxy is to look at a recently transacted house across the road (with no road line plan) and apply a slight discount of about 10%.

Of course, there are other factors at play, such as built up area, how long ago was the last A&A done, facing, any underground carpark, etc.

So what's the verdict? Professional valuers can differ in their valuation estimates by 10-20%. There's no absolute right or wrong answer, but that unit is probably worth about $1,300psf based on land size.
Powerhaus
Powerhaus
A BRIEF HISTORY OF MOUNT SOPHIA

I never liked history when I was in secondary school, and I guess that becomes more interesting as you get older and appreciate the significance of certain landmarks.

Mount Sophia was originally known as Bukit Selegie and used to be commonly called Flint's Hill when it was occupied by Raffles' brother in law, William Flint. Mount Sophia was supposedly named by William Flint in honour of Raffles's second wife, Sophia Hull. Mount Sophia was sold to Charles Robert Prinsep (Prinsep St sounds familiar to you?).

Did you know that in 1840, Mt Sophia was mainly used as a gambier, nutmeg and coffee plantation?

Sophia Blackmore, an Australian missionary, founded MGS in 1887, which moved from a shophouse in Short St to Middle Road, to Selegie to Mt Sophia, and eventually to present day Blackmore Drive.

The former Mt Sophia premises was transformed to trendy and artsy "Old School" before it was torn down and made way for present day Sophia Hills.

Here we are, at Sophia Hills, a modern, yet historic residential development with old colonial charm. You can own a 1,023sqft 3 bedder here for $2.39m. Contact me for more details about this property.
Powerhaus
Powerhaus
PHOTO HUNT

I felt this post is quite necessary after I met up with 3 different friends who said the exact same thing. All of them thought that I only do atas properties! Well, I do have good insights on the luxury property market but I have a healthy portfolio of bread and butter deals such as HDBs, which will be the topic of today!

Even for a HDB transaction, I will spend good effort on it! This seller's unit had a lot of barang barang, and they needed a considerable amount of time to clear them. Do I wait for them to clear before putting up the unit for sale and risk missing out on a prospective buyer? Of course not! I took whatever photos I could. It wasn't easy to find the right angle to make the unit look its best, so I spent quite some time moving stuff around for this photoshoot. For this reason, I will usually spend an hour or so at my clients' place for photoshoots and I would break into sweat moving furniture and stuff around. Most other agents will be gone in 10mins. For my friend's unit which I was helping him market, I suggested to permanently shift his dining table to flush against the wall to make the place look bigger, and it really did. Shortly after, his unit was sold after being marketed for 6 months or so. Unfortunately for me, it was sold by another agent...

Some listings can have really lousy shots that don't even tell you how the house looks like. Some have only 1 photo of the kitchen or corridor that doesn't tell you anything. Most of the time, I suspect those are fake listings just to fish for buyers. Logically, if an agent has a proper unit for sale, wouldn't he/she take photos of at least the living room and the master bedroom?

Back to my unit - the sellers will purportedly hire another agent to sell their place (due to complex reasons I can't disclose). I'm interested to see what kind of photos will he/she use to post on his/her listing. I will share that with you once I spot it!

How many differences can you spot in the before and after photos? Can you find at least 20? What if I told you that all the changes are all photoshopped over 2-3 hours?

This is a 1219 sqft 5 room flat near Kembangan MRT. Built in 1988. Asking for $730k. Low floor. Any interest?